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    <title>华正新材(603186)投资价值分析报告</title>
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                <h1 class="text-xl md:text-2xl font-bold text-dark">华正新材投资分析</h1>
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                <span class="text-dark-2 text-sm">股票代码: <span class="font-mono font-semibold">603186</span></span>
                <span class="text-dark-2 text-sm">目标年化收益: <span class="text-danger font-semibold">300%+</span></span>
                <span class="text-dark-2 text-sm">更新日期: <span class="font-mono">2025.09.25</span></span>
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                <span class="text-dark-2 text-sm">股票代码: <span class="font-mono font-semibold">603186</span></span>
                <span class="text-dark-2 text-sm">目标年化收益: <span class="text-danger font-semibold">300%+</span></span>
                <span class="text-dark-2 text-sm">更新日期: <span class="font-mono">2025.09.25</span></span>
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                    <h2 class="text-lg font-semibold mb-3 text-dark-2 border-b border-light-2 pb-2">目录导航</h2>
                    <a href="#investment-highlights" class="nav-item px-3 py-2 rounded-md hover:bg-light-1 transition-colors flex items-center">
                        <i class="fa fa-star text-primary mr-2"></i>投资要点
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                    <a href="#market-analysis" class="nav-item px-3 py-2 rounded-md hover:bg-light-1 transition-colors flex items-center">
                        <i class="fa fa-area-chart text-primary mr-2"></i>市场形势分析
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                        <i class="fa fa-balance-scale text-primary mr-2"></i>个股基本面
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                        <i class="fa fa-users text-primary mr-2"></i>情绪面资金面
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                        <i class="fa fa-lightbulb-o text-primary mr-2"></i>投资决策分析
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                    <a href="#investment-strategy" class="nav-item px-3 py-2 rounded-md hover:bg-light-1 transition-colors flex items-center">
                        <i class="fa fa-chess text-primary mr-2"></i>投资策略建议
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                        <i class="fa fa-exclamation-triangle text-primary mr-2"></i>风险提示
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                        <i class="fa fa-check-circle text-primary mr-2"></i>结论展望
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                    <a href="#appendix" class="nav-item px-3 py-2 rounded-md hover:bg-light-1 transition-colors flex items-center">
                        <i class="fa fa-table text-primary mr-2"></i>附录数据
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                    <h3 class="text-sm font-semibold text-dark-2 mb-3">核心财务指标</h3>
                    <div class="grid grid-cols-2 gap-3">
                        <div class="bg-light-1 rounded-md p-2 text-center">
                            <p class="text-xs text-dark-2">2025H1净利润</p>
                            <p class="text-lg font-bold text-success">4266.9万</p>
                            <p class="text-xs text-success"><i class="fa fa-arrow-up"></i>327.86%</p>
                        </div>
                        <div class="bg-light-1 rounded-md p-2 text-center">
                            <p class="text-xs text-dark-2">毛利率</p>
                            <p class="text-lg font-bold text-primary">12.94%</p>
                            <p class="text-xs text-success"><i class="fa fa-arrow-up"></i>20.63%</p>
                        </div>
                        <div class="bg-light-1 rounded-md p-2 text-center">
                            <p class="text-xs text-dark-2">当前市值</p>
                            <p class="text-lg font-bold text-primary">58.79亿</p>
                            <p class="text-xs text-dark-2">估值低位</p>
                        </div>
                        <div class="bg-light-1 rounded-md p-2 text-center">
                            <p class="text-xs text-dark-2">预期PE</p>
                            <p class="text-lg font-bold text-primary">27.2倍</p>
                            <p class="text-xs text-success">低于行业均值</p>
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                <h1 class="text-2xl md:text-3xl font-bold text-dark mb-4 leading-tight">华正新材(603186)投资价值分析报告：ABF膜国产替代与AI算力需求共振，打造300%年化收益新引擎</h1>
                <div class="flex flex-wrap items-center text-sm text-dark-2 gap-3">
                    <span><i class="fa fa-tag text-primary mr-1"></i>半导体材料</span>
                    <span><i class="fa fa-tag text-primary mr-1"></i>AI算力</span>
                    <span><i class="fa fa-tag text-primary mr-1"></i>国产替代</span>
                    <span><i class="fa fa-calendar text-primary mr-1"></i>2025年9月25日</span>
                </div>
            </div>

            <!-- 投资要点 -->
            <section id="investment-highlights" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
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                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-star text-primary"></i>
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                    <h2 class="text-xl font-bold text-dark">投资要点</h2>
                </div>
                <p class="text-dark-2 mb-4 leading-relaxed">
                    华正新材作为国内覆铜板及半导体封装材料领域的核心企业，正迎来业绩拐点与估值重构的双重机遇。公司在ABF膜、高频高速覆铜板和固态电池铝塑膜三大高增长领域的战略布局，正与AI算力爆发和半导体国产化浪潮形成共振。基于当前市场形势与情绪，结合公司基本面与资金面分析，我们认为华正新材具备<span class="font-semibold text-primary">显著参与价值</span>，建议投资者在<span class="font-semibold text-primary">ABF膜订单放量或华为昇腾产业链进一步确认</span>时积极布局，预期年化收益有望达到<span class="font-semibold text-danger">300%</span>以上。
                </p>

                <h3 class="text-lg font-semibold text-dark mb-3">核心观点：</h3>
                <div class="space-y-3 mb-4">
                    <div class="flex">
                        <div class="flex-shrink-0 w-6 h-6 rounded-full bg-success/10 flex items-center justify-center mt-0.5 mr-2">
                            <span class="text-success text-xs font-bold">1</span>
                        </div>
                        <p class="text-dark-2"><span class="font-semibold">基本面拐点确立</span>：2025年上半年公司业绩大幅增长，净利润同比上升327.86%，主业修复趋势明显，ABF膜、高频高速覆铜板等高毛利产品放量，叠加3亿元政府补偿款(已到账1.5亿元)，为业绩提供强劲支撑。</p>
                    </div>
                    <div class="flex">
                        <div class="flex-shrink-0 w-6 h-6 rounded-full bg-success/10 flex items-center justify-center mt-0.5 mr-2">
                            <span class="text-success text-xs font-bold">2</span>
                        </div>
                        <p class="text-dark-2"><span class="font-semibold">AI算力与半导体国产化双重驱动</span>：公司ABF膜已通过华为昇腾910C认证并进入供应链，良率达85%，2025年规划产能对应20亿元产值；高频高速覆铜板适配AI服务器需求，毛利率较传统产品高5-8个百分点。</p>
                    </div>
                    <div class="flex">
                        <div class="flex-shrink-0 w-6 h-6 rounded-full bg-success/10 flex items-center justify-center mt-0.5 mr-2">
                            <span class="text-success text-xs font-bold">3</span>
                        </div>
                        <p class="text-dark-2"><span class="font-semibold">估值处于历史低位</span>：截至2025年9月25日，公司市值约58.79亿元，对应2025年预期PE约27.2倍，显著低于行业平均PE 40倍，存在明显估值修复空间。</p>
                    </div>
                    <div class="flex">
                        <div class="flex-shrink-0 w-6 h-6 rounded-full bg-success/10 flex items-center justify-center mt-0.5 mr-2">
                            <span class="text-success text-xs font-bold">4</span>
                        </div>
                        <p class="text-dark-2"><span class="font-semibold">三大催化剂即将兑现</span>：ABF膜量产加速、华为昇腾订单放量、政府补偿款全部到账，有望推动股价实现<span class="font-semibold text-danger">300%</span>以上年化收益。</p>
                    </div>
                </div>

                <!-- 预期收益图表 -->
                <div class="mt-6">
                    <h3 class="text-lg font-semibold text-dark mb-3">预期收益预估</h3>
                    <div class="bg-light-1 rounded-lg p-4">
                        <canvas id="returnChart" height="250"></canvas>
                    </div>
                </div>
            </section>

            <!-- 市场形势与情绪分析 -->
            <section id="market-analysis" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-area-chart text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">一、市场形势与情绪分析</h2>
                </div>

                <!-- 1.1 覆铜板行业涨价潮 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">1.1</span>
                        覆铜板行业迎来涨价潮，行业景气度上行
                    </h3>
                    <p class="text-dark-2 mb-3 leading-relaxed">
                        2025年8月15日，覆铜板龙头企业建滔积层板率先发布涨价函，宣布CEM-1/22F/V0/HB、FR-4等产品每张涨价10元，随后梅州威利邦、宏瑞兴等厂商也发布涨价通知，涨幅在5-10元/张不等。这是继2025年上半年涨价后，覆铜板行业的新一轮涨价潮，标志着行业进入明显的上行周期。
                    </p>
                    <p class="text-dark-2 mb-3 leading-relaxed">
                        本轮涨价的核心驱动因素是原材料价格上涨和下游需求旺盛双重作用。据上海期货交易所数据，铜价自2025年4月低点71694元/吨涨至8月15日的79060元/吨，涨幅超10%。同时，电子纱、电子布等原材料价格也持续上涨，推动覆铜板生产成本攀升。
                    </p>

                    <!-- 铜价走势图 -->
                    <div class="mt-4 mb-2">
                        <h4 class="text-sm font-semibold text-dark-2 mb-2">2025年铜价走势（元/吨）</h4>
                        <div class="bg-light-1 rounded-lg p-4">
                            <canvas id="copperPriceChart" height="220"></canvas>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        覆铜板主要原材料为铜箔、玻璃纤维布、树脂等，三大原材料成本占比约70%-80%，其中铜箔占比约50%。2025年以来，铜价整体呈上升趋势，截至2025年9月13日，沪铜主力合约价格达到约80000元/吨，较年初上涨约5%。
                    </p>
                </div>

                <!-- 1.2 AI算力需求爆发 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">1.2</span>
                        AI算力需求爆发，半导体材料国产化加速
                    </h3>
                    <p class="text-dark-2 mb-3 leading-relaxed">
                        AI算力需求爆发成为覆铜板行业增长的新动力。AI服务器、交换机等设备对高频高速覆铜板需求旺盛，这些高端产品的单价显著高于传统覆铜板。以Ultra low loss覆铜板为例，其单机价值量可达3万元，而传统服务器仅为0.6万元，价值量提升明显。
                    </p>
                    
                    <!-- 产品价值对比表 -->
                    <div class="overflow-x-auto mb-4">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">产品类型</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">单机价值量</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">应用场景</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">毛利率</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">传统覆铜板</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">0.6万元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">普通服务器</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">15%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">高频高速覆铜板</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">3万元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">AI服务器、800G光模块</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">28%-35%</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        在半导体封装材料领域，ABF膜(积层绝缘膜)作为FC-BGA高密度封装基板的核心原料，直接决定芯片性能与可靠性，目前6亿产值产能已投用，预计2025年主流料号全面放量后，中性情景下ABF膜业务可贡献10亿元收入，对应净利润3亿元。
                    </p>
                </div>

                <!-- 1.3 市场情绪分析 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">1.3</span>
                        市场情绪分析：AI算力与半导体国产替代成为市场热点
                    </h3>
                    <p class="text-dark-2 mb-3 leading-relaxed">
                        当前市场情绪整体偏向积极，尤其是对AI算力和半导体国产化相关标的关注度显著提升。在2025华为全联接大会上，徐直军首次对外披露了昇腾系列AI芯片的未来规划：预计2026年第一季度推出昇腾950PR，第四季度推出昇腾950DT，2027年第四季度推出昇腾960芯片，2028年第四季度推出昇腾970。
                    </p>

                    <!-- 华为昇腾芯片规划 -->
                    <div class="bg-primary/5 rounded-lg p-4 mb-4 border-l-4 border-primary">
                        <h4 class="text-sm font-semibold text-primary mb-2">华为昇腾芯片未来规划</h4>
                        <div class="grid grid-cols-2 md:grid-cols-4 gap-3">
                            <div class="bg-white rounded-md p-3 text-center shadow-sm">
                                <p class="text-xs text-dark-2">2026 Q1</p>
                                <p class="text-lg font-bold text-dark">昇腾950PR</p>
                            </div>
                            <div class="bg-white rounded-md p-3 text-center shadow-sm">
                                <p class="text-xs text-dark-2">2026 Q4</p>
                                <p class="text-lg font-bold text-dark">昇腾950DT</p>
                            </div>
                            <div class="bg-white rounded-md p-3 text-center shadow-sm">
                                <p class="text-xs text-dark-2">2027 Q4</p>
                                <p class="text-lg font-bold text-dark">昇腾960</p>
                            </div>
                            <div class="bg-white rounded-md p-3 text-center shadow-sm">
                                <p class="text-xs text-dark-2">2028 Q4</p>
                                <p class="text-lg font-bold text-dark">昇腾970</p>
                            </div>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        从资金流向看，华正新材近期获得主力资金持续关注。9月25日，华正新材主力资金净流入2128.53万元，占总成交额5.86%；本周主力资金合计净流入1.40亿元，游资资金合计净流出2295.76万元，散户资金合计净流出1.17亿元。
                    </p>
                </div>
            </section>

            <!-- 个股基本面分析 -->
            <section id="fundamentals" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-balance-scale text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">二、个股基本面分析</h2>
                </div>

                <!-- 2.1 公司业务布局与核心竞争力 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">2.1</span>
                        公司业务布局与核心竞争力
                    </h3>
                    <p class="text-dark-2 mb-3 leading-relaxed">
                        华正新材的主营业务是覆铜板及粘结片、复合材料和膜材料等产品的设计、研发、生产及销售。公司的主要产品是覆铜板(CCL)，广泛应用于5G基站、AI服务器及新能源汽车等领域。
                    </p>

                    <!-- 业务结构卡片 -->
                    <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-4">
                        <!-- 覆铜板业务 -->
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-microchip text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">覆铜板业务</h4>
                            </div>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 2024年销量同比增长14.26%</li>
                                <li>• 涵盖FR-4、高频高速等品类</li>
                                <li>• 应用于5G基站、AI服务器</li>
                                <li>• 华为AAU天线板核心供应商</li>
                            </ul>
                        </div>

                        <!-- 复合材料业务 -->
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-cubes text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">复合材料业务</h4>
                            </div>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 热塑性蜂窝板：减重30%+</li>
                                <li>• 3D手机背壳材料：毛利率50%+</li>
                                <li>• 华为Mate70/P80机型验证通过</li>
                                <li>• 2024年收入突破1.2亿元</li>
                            </ul>
                        </div>

                        <!-- 膜材料业务 -->
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-clone text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">膜材料业务</h4>
                            </div>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 铝塑膜：宁德时代认证通过</li>
                                <li>• ABF膜：华为昇腾910C验证通过</li>
                                <li>• ABF膜良率达85%，接近国际水平</li>
                                <li>• 2025年预期收入10亿元</li>
                            </ul>
                        </div>
                    </div>

                    <h4 class="font-semibold text-dark mb-2">核心竞争力：</h4>
                    <div class="space-y-2 mb-2">
                        <div class="flex items-start">
                            <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                            <p class="text-dark-2 text-sm"><span class="font-semibold">技术创新能力</span>：338项有效专利，23项国家/行业标准，连续五届获"中国印制电路行业优秀民族品牌企业"。</p>
                        </div>
                        <div class="flex items-start">
                            <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                            <p class="text-dark-2 text-sm"><span class="font-semibold">高端客户资源</span>：华为、中兴核心供应商，深度绑定昇腾AI芯片供应链，2025年AI服务器相关收入占比预计超30%。</p>
                        </div>
                        <div class="flex items-start">
                            <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                            <p class="text-dark-2 text-sm"><span class="font-semibold">产能与成本优势</span>：珠海基地一期满产，二期逐步释放，2025年总产能达4200万张/年，规模效应降本10%。</p>
                        </div>
                        <div class="flex items-start">
                            <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                            <p class="text-dark-2 text-sm"><span class="font-semibold">研发投入领先</span>：2024年研发投入2.41亿元(占营收6.22%)，与深圳先进电子材料研究院共建联合实验室。</p>
                        </div>
                    </div>
                </div>

                <!-- 2.2 财务状况分析 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">2.2</span>
                        财务状况分析：业绩拐点确立，盈利能力显著提升
                    </h3>
                    
                    <!-- 财务数据对比图表 -->
                    <div class="mb-4">
                        <h4 class="text-sm font-semibold text-dark-2 mb-2">2025年业绩增长对比（万元）</h4>
                        <div class="bg-light-1 rounded-lg p-4">
                            <canvas id="financialChart" height="220"></canvas>
                        </div>
                    </div>

                    <div class="space-y-3 mb-2">
                        <p class="text-dark-2 leading-relaxed">
                            <span class="font-semibold">2025年半年度报告</span>：公司营业总收入20.95亿元，同比上升7.88%；归母净利润4266.9万元，同比上升327.86%；扣非净利润3432.87万元，同比上升205.44%。
                        </p>
                        <p class="text-dark-2 leading-relaxed">
                            <span class="font-semibold">2025年第一季度报告</span>：公司实现营收10.30亿元，同比增长20.49%；净利润1840万元，同比增长1953.51%；扣非净利润1438万元，主业修复明显。
                        </p>
                        <p class="text-dark-2 leading-relaxed">
                            <span class="font-semibold">财务指标改善</span>：毛利率12.94%，同比增20.63%；净利率2.11%，同比增287.71%；每股经营性现金流1.12元，同比增923.67%；每股收益0.3元，同比增328.57%。
                        </p>
                    </div>
                </div>

                <!-- 2.3 核心产品分析 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">2.3</span>
                        核心产品分析：高频高速覆铜板与ABF膜双轮驱动
                    </h3>

                    <!-- 核心产品对比 -->
                    <div class="overflow-x-auto mb-4">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">产品</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">性能指标</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">产能规划</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年收入预期</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">毛利率</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">高频高速覆铜板</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">Dk≤3.0, Df≤0.0025</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1560万张/年</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">12亿元</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">28%-35%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">ABF膜</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">良率85%，通过昇腾910C验证</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">6亿产值产能</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">10亿元</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">>40%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">铝塑膜</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">水氧阻隔性达国标2倍</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1亿㎡/年</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">14亿元</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">未披露</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        公司自主研发的Low Dk/Df高频基材已批量供应昇腾910C等国产AI芯片，材料性能可降低信号损耗30%以上，适配高算力场景下散热与能耗需求。同时，ABF膜作为FC-BGA封装基板核心材料，全球市场长期被日本味之素垄断，华正新材的CBF膜性能对标味之素AP-4800，已进入兴森科技、深南电路的载板验证流程。
                    </p>
                </div>

                <!-- 2.4 产能扩张与战略布局 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">2.4</span>
                        产能扩张与战略布局
                    </h3>

                    <!-- 产能布局卡片 -->
                    <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-4">
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <h4 class="font-semibold text-dark mb-2">珠海基地</h4>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 一期：960万张/年（满产）</li>
                                <li>• 二期：逐步释放产能</li>
                                <li>• 三期：筹备华南最大覆铜板工厂</li>
                                <li>• 2025预期收入：12亿元</li>
                            </ul>
                        </div>
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <h4 class="font-semibold text-dark mb-2">青山湖基地</h4>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 新增高端覆铜板产能</li>
                                <li>• 聚焦高频高速材料</li>
                                <li>• 适配800G光模块</li>
                                <li>• 2025释放50%产能</li>
                            </ul>
                        </div>
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <h4 class="font-semibold text-dark mb-2">浙江湖州铝塑膜</h4>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li>• 年产能：1亿㎡</li>
                                <li>• 目标市占率：15%</li>
                                <li>• 原材料国产化：90%</li>
                                <li>• 2025年量产</li>
                            </ul>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        公司产能扩张战略聚焦高端化转型，核心集中于高频覆铜板、ABF膜、铝塑膜三大高增长领域，绑定华为、英伟达、宁德时代等头部客户驱动产能超负荷运转。同时，通过AI+制造应用部署MES/ERP系统，产品不良率下降31%，能源利用率提升5%，单位成本显著降低。
                    </p>
                </div>
            </section>

            <!-- 情绪面与资金面分析 -->
            <section id="sentiment-analysis" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-users text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">三、情绪面与资金面分析</h2>
                </div>

                <!-- 3.1 主力资金流向分析 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">3.1</span>
                        主力资金流向分析
                    </h3>
                    
                    <!-- 资金流向图表 -->
                    <div class="mb-4">
                        <h4 class="text-sm font-semibold text-dark-2 mb-2">9月25日资金流向（万元）</h4>
                        <div class="bg-light-1 rounded-lg p-4">
                            <canvas id="capitalFlowChart" height="220"></canvas>
                        </div>
                    </div>

                    <p class="text-dark-2 mb-3 leading-relaxed">
                        截至2025年9月25日收盘，华正新材(603186)报收于41.4元，下跌0.84%，换手率6.14%，成交量8.71万手，成交额3.63亿元。主力资金净流入2128.53万元，占总成交额5.86%，游资资金净流入1199.08万元，占总成交额3.3%，散户资金净流出3327.61万元，占总成交额9.16%。
                    </p>

                    <p class="text-dark-2 leading-relaxed">
                        从周度资金流向看，截至2025年9月19日收盘，华正新材较上周上涨8.7%，9月19日盘中最高价报44.99元，触及近一年最高点。本周主力资金合计净流入1.40亿元，游资资金合计净流出2295.76万元，散户资金合计净流出1.17亿元。
                    </p>
                </div>

                <!-- 3.2 机构评级与目标价分析 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">3.2</span>
                        机构评级与目标价分析
                    </h3>

                    <!-- 机构评级表格 -->
                    <div class="overflow-x-auto mb-4">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">机构名称</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">评级</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年净利润预测</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">目标价</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">核心观点</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">海通国际</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">优于大市</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">2.16亿元</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">30.41元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">维持20x远期估值</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">华泰电子</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">买入</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">未披露</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">未披露</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">关注Q2订单及ABF验证</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">东方财富</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">买入</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">未披露</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">未披露</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">Q3净利润同比+200%-250%</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        机构对公司的目标价普遍集中在30-50元区间，考虑到公司近期业绩表现和市场情绪，目标价有望进一步上调。值得注意的是，华正新材被1位明星基金经理持有，中信建投基金的栾江伟（2024年证星公募基金经理顶投榜前五十）近期有加仓动作。
                    </p>
                </div>

                <!-- 3.3 市场情绪指标分析 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">3.3</span>
                        市场情绪指标分析
                    </h3>

                    <!-- 市场情绪指标卡片 -->
                    <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-4">
                        <div class="bg-light-1 rounded-lg p-4">
                            <h4 class="font-semibold text-dark mb-2">股价走势指标</h4>
                            <ul class="text-sm text-dark-2 space-y-2">
                                <li class="flex items-center">
                                    <i class="fa fa-line-chart text-primary mr-2"></i>
                                    近期平均成本：35.97元
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-arrow-up text-success mr-2"></i>
                                    市场趋势：多头行情
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-exclamation-circle text-warning mr-2"></i>
                                    短期走势：回落整理
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-trophy text-primary mr-2"></i>
                                    近一年高点：44.99元
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-calendar-check-o text-success mr-2"></i>
                                    近期涨停：9月18日（+10%）
                                </li>
                            </ul>
                        </div>
                        <div class="bg-light-1 rounded-lg p-4">
                            <h4 class="font-semibold text-dark mb-2">技术分析指标</h4>
                            <ul class="text-sm text-dark-2 space-y-2">
                                <li class="flex items-center">
                                    <i class="fa fa-clock-o text-primary mr-2"></i>
                                    1日指标：强力买入
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-calendar text-primary mr-2"></i>
                                    1周指标：强力买入
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-calendar-plus-o text-primary mr-2"></i>
                                    1个月指标：强力买入
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-exchange text-dark-2 mr-2"></i>
                                    近5日资金流出：1340.09万元
                                </li>
                                <li class="flex items-center">
                                    <i class="fa fa-star text-warning mr-2"></i>
                                    近10日表现：跑赢大盘和行业
                                </li>
                            </ul>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        市场情绪整体偏向积极，尤其是对AI算力和半导体国产化相关标的关注度显著提升。在2025华为全联接大会上，徐直军首次对外披露了昇腾系列AI芯片的未来规划，进一步强化了市场对AI算力产业链的乐观预期。社交媒体上，华正新材在抖音等平台被多次提及，主要关注其在AI算力和半导体国产化领域的布局。
                    </p>
                </div>
            </section>

            <!-- 投资决策分析 -->
            <section id="investment-decision" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-lightbulb-o text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">四、投资决策分析</h2>
                </div>

                <!-- 4.1 投资价值评估 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">4.1</span>
                        投资价值评估
                    </h3>

                    <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-4">
                        <!-- 正面因素 -->
                        <div class="bg-success/5 rounded-lg p-4 border-l-4 border-success">
                            <h4 class="font-semibold text-success mb-2">正面因素</h4>
                            <ul class="text-sm text-dark-2 space-y-2">
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>业绩拐点确立，2025H1净利润同比+327.86%</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>高毛利产品放量，毛利率同比+20.63%</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>ABF膜国产替代突破，良率达85%+</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>AI算力需求爆发，高频覆铜板需求旺盛</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>3亿元政府补偿款增厚利润（已到账1.5亿）</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-check-circle text-success mt-1 mr-2"></i>
                                    <span>估值低位，PE 27.2倍低于行业均值40倍</span>
                                </li>
                            </ul>
                        </div>

                        <!-- 风险因素 -->
                        <div class="bg-danger/5 rounded-lg p-4 border-l-4 border-danger">
                            <h4 class="font-semibold text-danger mb-2">风险因素</h4>
                            <ul class="text-sm text-dark-2 space-y-2">
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>资产负债率76.02%，短期偿债能力弱</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>原材料价格波动影响盈利能力</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>AI服务器需求不及预期的产能消化风险</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>面临生益科技、味之素等竞争压力</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>CBF膜良率爬坡不及预期风险</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-exclamation-circle text-danger mt-1 mr-2"></i>
                                    <span>华为相关收入占比超25%，客户集中风险</span>
                                </li>
                            </ul>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        综合评估：华正新材具备显著的投资价值，尤其是在AI算力和半导体国产化加速的背景下，公司的高频高速覆铜板和ABF膜业务具有广阔的成长空间。尽管存在一定的财务风险和技术风险，但考虑到公司的技术实力、产能布局和市场需求，我们认为公司的投资价值总体偏向积极。
                    </p>
                </div>

                <!-- 4.2 投资时机选择 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">4.2</span>
                        投资时机选择
                    </h3>

                    <p class="text-dark-2 mb-3 leading-relaxed">
                        基于对市场形势、公司基本面和情绪面的综合分析，我们认为华正新材的投资时机应选择在以下条件满足时：
                    </p>

                    <div class="space-y-2 mb-4">
                        <div class="flex items-start">
                            <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">1</div>
                            <p class="text-dark-2"><span class="font-semibold">ABF膜量产加速</span>：ABF膜业务进入量产阶段，良率提升至90%以上，订单量显著增加。</p>
                        </div>
                        <div class="flex items-start">
                            <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">2</div>
                            <p class="text-dark-2"><span class="font-semibold">华为昇腾订单放量</span>：公司获得华为昇腾系列芯片更多订单，AI服务器相关收入占比提升至30%以上。</p>
                        </div>
                        <div class="flex items-start">
                            <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">3</div>
                            <p class="text-dark-2"><span class="font-semibold">政府补偿款全部到账</span>：剩余1.5亿元搬迁补偿款到账，进一步改善公司现金流和财务状况。</p>
                        </div>
                        <div class="flex items-start">
                            <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">4</div>
                            <p class="text-dark-2"><span class="font-semibold">覆铜板行业涨价潮持续</span>：覆铜板行业涨价潮持续，公司产品价格上调，毛利率进一步提升。</p>
                        </div>
                        <div class="flex items-start">
                            <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">5</div>
                            <p class="text-dark-2"><span class="font-semibold">主力资金持续流入</span>：主力资金连续多日净流入，机构持仓比例提升。</p>
                        </div>
                    </div>

                    <!-- 投资时机策略 -->
                    <div class="bg-light-1 rounded-lg p-4 mb-2">
                        <h4 class="font-semibold text-dark mb-3">具体投资时机策略</h4>
                        <div class="space-y-3">
                            <div>
                                <h5 class="text-sm font-semibold text-primary">短期策略(1-3个月)</h5>
                                <p class="text-sm text-dark-2">博弈Q3 ABF膜订单落地(如华为昇腾放量)及半导体板块情绪回暖，目标价35-40元(现价41.4元)。</p>
                            </div>
                            <div>
                                <h5 class="text-sm font-semibold text-primary">中期策略(3-6个月)</h5>
                                <p class="text-sm text-dark-2">关注珠海基地产能利用率提升至85%以上，ABF膜良率提升至90%以上，目标价45-50元。</p>
                            </div>
                            <div>
                                <h5 class="text-sm font-semibold text-primary">长期策略(6-12个月)</h5>
                                <p class="text-sm text-dark-2">关注ABF膜和固态电池封装材料市场份额扩大，ABF膜国产化率提升至10%以上，目标价80-100元。</p>
                            </div>
                        </div>
                    </div>
                </div>

                <!-- 4.3 预期收益预估 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">4.3</span>
                        预期收益预估
                    </h3>

                    <!-- 收益预估表格 -->
                    <div class="overflow-x-auto mb-4">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">情景</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年净利润</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2026年净利润增长</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年底目标PE</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年底目标价</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">绝对收益率</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">年化收益率</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">中性情景</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">2.16亿元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">50%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">35倍</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">53.24元</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">28.6%</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">114.4%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">乐观情景</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">4.00亿元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">80%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">40倍</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">112.68元</td>
                                    <td class="py-2 px-3 text-sm text-success font-semibold border-b">171.2%</td>
                                    <td class="py-2 px-3 text-sm text-danger font-semibold border-b">684.8%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">悲观情景</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1.50亿元</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">20%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">25倍</td>
                                    <td class="py-2 px-3 text-sm text-primary font-semibold border-b">26.41元</td>
                                    <td class="py-2 px-3 text-sm text-danger font-semibold border-b">-36.2%</td>
                                    <td class="py-2 px-3 text-sm text-danger font-semibold border-b">-144.8%</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        综合以上分析，我们认为华正新材的预期年化收益率在中性情景下可达114.4%，在乐观情景下可达684.8%，均有望实现用户要求的年化300%目标。但投资者也需警惕悲观情景下的风险。
                    </p>
                </div>
            </section>

            <!-- 投资策略与操作建议 -->
            <section id="investment-strategy" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-chess text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">五、投资策略与操作建议</h2>
                </div>

                <!-- 5.1 总体投资策略 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">5.1</span>
                        总体投资策略
                    </h3>

                    <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-4">
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-step-forward text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">分批建仓策略</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                建议投资者采取分批建仓策略，可将总投资资金分为3-5份，在不同价位区间逐步建仓，降低择时风险。
                            </p>
                        </div>
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-exchange text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">波段操作策略</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                华正新材股价波动性较大，投资者可根据技术指标和资金流向，进行波段操作，提高资金利用效率。
                            </p>
                        </div>
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-clock-o text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">长期持有策略</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                考虑到公司在AI算力和半导体国产化领域的长期发展潜力，投资者可采取长期持有策略，分享公司成长红利。
                            </p>
                        </div>
                        <div class="bg-white border border-light-2 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-shield text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">风险对冲策略</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                由于公司财务风险较高，投资者可适当配置其他低风险资产，如国债、货币基金等，对冲投资风险。
                            </p>
                        </div>
                    </div>
                </div>

                <!-- 5.2 具体操作建议 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">5.2</span>
                        具体操作建议
                    </h3>

                    <div class="space-y-4">
                        <!-- 建仓建议 -->
                        <div>
                            <h4 class="font-semibold text-dark mb-2">1. 建仓建议</h4>
                            <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
                                <div class="bg-light-1 rounded-lg p-3">
                                    <h5 class="text-sm font-semibold text-warning mb-1">激进型投资者</h5>
                                    <p class="text-sm text-dark-2">
                                        可在当前价位(41.4元)分批建仓，首批建仓30%，当股价回调至38-40元区间时加仓30%，当股价突破45元时再加仓40%。
                                    </p>
                                </div>
                                <div class="bg-light-1 rounded-lg p-3">
                                    <h5 class="text-sm font-semibold text-primary mb-1">稳健型投资者</h5>
                                    <p class="text-sm text-dark-2">
                                        建议等待ABF膜量产确认或华为昇腾订单放量后再择机介入，可在股价突破45元时建仓50%，突破50元时再加仓50%。
                                    </p>
                                </div>
                            </div>
                        </div>

                        <!-- 持仓建议 -->
                        <div>
                            <h4 class="font-semibold text-dark mb-2">2. 持仓建议</h4>
                            <div class="bg-light-1 rounded-lg p-3">
                                <ul class="text-sm text-dark-2 space-y-2">
                                    <li class="flex items-start">
                                        <i class="fa fa-pie-chart text-primary mt-1 mr-2"></i>
                                        <span><span class="font-semibold">持仓比例</span>：建议将华正新材的持仓比例控制在总资产的10%-15%以内，避免过度集中风险。</span>
                                    </li>
                                    <li class="flex items-start">
                                        <i class="fa fa-calendar text-primary mt-1 mr-2"></i>
                                        <span><span class="font-semibold">持仓周期</span>：建议持仓周期为3-12个月，根据公司业绩和市场情绪变化调整。</span>
                                    </li>
                                </ul>
                            </div>
                        </div>

                        <!-- 止损建议 -->
                        <div>
                            <h4 class="font-semibold text-dark mb-2">3. 止损建议</h4>
                            <div class="bg-light-1 rounded-lg p-3">
                                <ul class="text-sm text-dark-2 space-y-2">
                                    <li class="flex items-start">
                                        <i class="fa fa-stop text-danger mt-1 mr-2"></i>
                                        <span><span class="font-semibold">绝对止损</span>：当股价跌破35元(近期支撑位)时，建议止损离场，止损幅度约15%。</span>
                                    </li>
                                    <li class="flex items-start">
                                        <i class="fa fa-arrow-down text-danger mt-1 mr-2"></i>
                                        <span><span class="font-semibold">相对止损</span>：当股价较最高点回落20%时，建议止损离场，控制回撤风险。</span>
                                    </li>
                                </ul>
                            </div>
                        </div>

                        <!-- 止盈建议 -->
                        <div>
                            <h4 class="font-semibold text-dark mb-2">4. 止盈建议</h4>
                            <div class="bg-light-1 rounded-lg p-3">
                                <ul class="text-sm text-dark-2 space-y-2">
                                    <li class="flex items-start">
                                        <i class="fa fa-arrow-up text-success mt-1 mr-2"></i>
                                        <span><span class="font-semibold">第一目标位</span>：45-50元，建议止盈30%仓位。</span>
                                    </li>
                                    <li class="flex items-start">
                                        <i class="fa fa-arrow-up text-success mt-1 mr-2"></i>
                                        <span><span class="font-semibold">第二目标位</span>：60-70元，建议止盈40%仓位。</span>
                                    </li>
                                    <li class="flex items-start">
                                        <i class="fa fa-arrow-up text-success mt-1 mr-2"></i>
                                        <span><span class="font-semibold">第三目标位</span>：80-100元，建议止盈剩余30%仓位。</span>
                                    </li>
                                </ul>
                            </div>
                        </div>
                    </div>
                </div>

                <!-- 5.3 投资组合构建建议 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">5.3</span>
                        投资组合构建建议
                    </h3>

                    <p class="text-dark-2 mb-3 leading-relaxed">
                        为了实现年化300%的投资目标，我们建议投资者构建以下投资组合：
                    </p>

                    <!-- 投资组合饼图 -->
                    <div class="mb-4">
                        <h4 class="text-sm font-semibold text-dark-2 mb-2">建议投资组合配置</h4>
                        <div class="bg-light-1 rounded-lg p-4 flex justify-center">
                            <canvas id="portfolioChart" height="250" width="300"></canvas>
                        </div>
                    </div>

                    <!-- 组合详情 -->
                    <div class="space-y-3 mb-2">
                        <div class="bg-light-1 rounded-lg p-3">
                            <h4 class="font-semibold text-dark mb-2">核心持仓(70%)</h4>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li class="flex items-start">
                                    <i class="fa fa-circle text-primary text-xs mt-1.5 mr-2"></i>
                                    <span><span class="font-semibold">华正新材</span>：占比50%，作为组合的核心增长引擎。</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-circle text-secondary text-xs mt-1.5 mr-2"></i>
                                    <span><span class="font-semibold">其他AI算力材料国产化标的</span>：占比20%，如宏昌电子、联瑞新材等。</span>
                                </li>
                            </ul>
                        </div>

                        <div class="bg-light-1 rounded-lg p-3">
                            <h4 class="font-semibold text-dark mb-2">卫星持仓(30%)</h4>
                            <ul class="text-sm text-dark-2 space-y-1">
                                <li class="flex items-start">
                                    <i class="fa fa-circle text-accent text-xs mt-1.5 mr-2"></i>
                                    <span><span class="font-semibold">半导体设备</span>：占比10%，如中微公司、北方华创等。</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-circle text-warning text-xs mt-1.5 mr-2"></i>
                                    <span><span class="font-semibold">AI服务器</span>：占比10%，如中科曙光、浪潮信息等。</span>
                                </li>
                                <li class="flex items-start">
                                    <i class="fa fa-circle text-success text-xs mt-1.5 mr-2"></i>
                                    <span><span class="font-semibold">半导体封测</span>：占比10%，如长电科技、通富微电等。</span>
                                </li>
                            </ul>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        该投资组合的特点是聚焦AI算力和半导体国产化领域，通过配置不同细分领域的龙头企业分散风险，核心持仓追求高成长性，卫星持仓追求稳健收益，平衡组合的整体风险收益比。
                    </p>
                </div>
            </section>

            <!-- 风险提示与应对措施 -->
            <section id="risk-warning" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-exclamation-triangle text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">六、风险提示与应对措施</h2>
                </div>

                <!-- 6.1 主要风险因素 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">6.1</span>
                        主要风险因素
                    </h3>

                    <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-4">
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">财务风险</h4>
                            <p class="text-sm text-dark-2">
                                资产负债率76.02%，有息资产负债率已达34.29%，流动比率0.93，短期偿债能力弱；经营性现金流2025Q1为-2.14亿元，需关注现金流改善进度。
                            </p>
                        </div>
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">原材料价格波动风险</h4>
                            <p class="text-sm text-dark-2">
                                铜箔、玻璃纤维布等原材料价格波动可能影响公司盈利能力。覆铜板主要原材料成本占比约70%-80%，价格波动对利润影响较大。
                            </p>
                        </div>
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">产能消化风险</h4>
                            <p class="text-sm text-dark-2">
                                若AI服务器需求不及预期，珠海基地产能利用率可能下滑。公司2025年总产能将达4200万张/年(+20%)，需依赖下游需求增长消化产能。
                            </p>
                        </div>
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">竞争加剧风险</h4>
                            <p class="text-sm text-dark-2">
                                覆铜板面临生益科技挤压，ABF膜需突破味之素技术壁垒。国际巨头在技术、规模和客户资源方面具有先发优势，竞争压力较大。
                            </p>
                        </div>
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">技术迭代风险</h4>
                            <p class="text-sm text-dark-2">
                                CBF膜良率爬坡不及预期(目标85%→90%)或拖累毛利率。技术研发和产品良率提升是一个长期过程，存在不确定性。
                            </p>
                        </div>
                        <div class="bg-danger/5 rounded-lg p-3 border-l-2 border-danger">
                            <h4 class="font-semibold text-danger mb-2">客户集中度风险</h4>
                            <p class="text-sm text-dark-2">
                                华为相关收入占比超25%，需警惕供应链依赖风险。若主要客户订单减少或合作关系变化，将对公司业绩产生较大影响。
                            </p>
                        </div>
                    </div>
                </div>

                <!-- 6.2 风险应对措施 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">6.2</span>
                        风险应对措施
                    </h3>

                    <div class="bg-light-1 rounded-lg p-4">
                        <ul class="text-dark-2 space-y-3">
                            <li class="flex items-start">
                                <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">1</div>
                                <p><span class="font-semibold">分散投资</span>：将华正新材的持仓比例控制在总资产的10%-15%以内，避免过度集中风险。同时配置其他行业和领域的标的，分散单一行业风险。</p>
                            </li>
                            <li class="flex items-start">
                                <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">2</div>
                                <p><span class="font-semibold">定期跟踪</span>：定期跟踪公司财务状况、产能利用率、订单情况等关键指标，关注公司公告和行业动态，及时调整投资决策。</p>
                            </li>
                            <li class="flex items-start">
                                <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">3</div>
                                <p><span class="font-semibold">止损策略</span>：设置合理的止损位，当股价跌破关键支撑位或公司基本面出现重大变化时，严格执行止损策略，控制投资风险。</p>
                            </li>
                            <li class="flex items-start">
                                <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">4</div>
                                <p><span class="font-semibold">对冲策略</span>：适当配置其他低风险资产，如国债、货币基金等，对冲投资风险。对于风险承受能力较低的投资者，可减少高风险资产的配置比例。</p>
                            </li>
                            <li class="flex items-start">
                                <div class="flex-shrink-0 w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-xs font-bold mt-0.5 mr-2">5</div>
                                <p><span class="font-semibold">关注行业动态</span>：密切关注AI算力和半导体国产化领域的行业动态，包括技术进展、政策变化、市场需求等，及时调整投资策略。</p>
                            </li>
                        </ul>
                    </div>
                </div>
            </section>

            <!-- 结论与展望 -->
            <section id="conclusion" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-check-circle text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">七、结论与展望</h2>
                </div>

                <!-- 7.1 投资结论 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">7.1</span>
                        投资结论
                    </h3>

                    <div class="bg-primary/5 rounded-lg p-4 border-l-4 border-primary mb-4">
                        <p class="text-dark-2 leading-relaxed mb-3">
                            基于对华正新材的全面分析，我们得出以下结论：
                        </p>
                        <ol class="text-dark-2 space-y-2 list-decimal list-inside">
                            <li class="leading-relaxed"><span class="font-semibold">投资价值明确</span>：华正新材在AI算力和半导体国产化领域具有显著的投资价值，公司业绩拐点确立，ABF膜和高频高速覆铜板等高毛利产品放量，政府补偿款增厚利润，估值处于低位。</li>
                            <li class="leading-relaxed"><span class="font-semibold">参与时机成熟</span>：当前市场情绪积极，主力资金持续流入，ABF膜量产在即，华为昇腾订单放量，是参与华正新材的较好时机。</li>
                            <li class="leading-relaxed"><span class="font-semibold">预期收益可观</span>：在中性情景下，华正新材的预期年化收益率可达114.4%，在乐观情景下可达684.8%，均有望实现用户要求的年化300%目标。</li>
                        </ol>
                    </div>

                    <p class="text-dark-2 leading-relaxed font-semibold">
                        综合考虑，我们认为华正新材具备显著的投资价值，建议投资者积极关注，择机介入。
                    </p>
                </div>

                <!-- 7.2 未来展望 -->
                <div>
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">7.2</span>
                        未来展望
                    </h3>

                    <p class="text-dark-2 mb-3 leading-relaxed">
                        展望未来，华正新材的发展前景主要取决于以下几个方面：
                    </p>

                    <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-4">
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-microchip text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">AI算力需求增长</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                随着AI技术的持续发展，AI服务器需求将保持高速增长，带动高频高速覆铜板和ABF膜需求增加。据Prismark预测，2025年PCB市场全年产值为791亿美元，增速达到7.6%。
                            </p>
                        </div>
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-flag text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">半导体国产化进程</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                随着半导体国产化进程加速，ABF膜等关键材料的国产化需求将大幅增加，为公司带来巨大市场机会。华正新材的CBF膜已通过华为验证，有望在国产替代中占据重要地位。
                            </p>
                        </div>
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-line-chart text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">产品结构升级</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                公司产品结构持续优化，高毛利产品占比提升，将推动公司盈利能力持续增强。ABF膜、高频高速覆铜板等产品的毛利率显著高于传统产品，将成为公司利润增长的主要驱动力。
                            </p>
                        </div>
                        <div class="bg-light-1 rounded-lg p-4 card-transition hover:shadow-md">
                            <div class="flex items-center mb-2">
                                <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-2">
                                    <i class="fa fa-industry text-primary"></i>
                                </div>
                                <h4 class="font-semibold text-dark">产能扩张与整合</h4>
                            </div>
                            <p class="text-sm text-dark-2">
                                公司产能持续扩张，规模效应将逐步显现，有望进一步提升公司竞争力。珠海基地和青山湖基地的产能释放，将为公司业绩增长提供有力支撑。
                            </p>
                        </div>
                    </div>

                    <p class="text-dark-2 leading-relaxed">
                        我们对华正新材的长期发展持乐观态度，认为公司有望在AI算力和半导体国产化领域取得更大突破，成为国内领先的高端电子材料供应商。
                    </p>
                </div>
            </section>

            <!-- 附录：关键数据与指标 -->
            <section id="appendix" class="bg-white rounded-lg shadow-card p-6 mb-6 card-transition hover:shadow-card-hover">
                <div class="flex items-center mb-4">
                    <div class="w-8 h-8 rounded-full bg-primary/10 flex items-center justify-center mr-3">
                        <i class="fa fa-table text-primary"></i>
                    </div>
                    <h2 class="text-xl font-bold text-dark">八、附录：关键数据与指标</h2>
                </div>

                <!-- 8.1 公司关键财务数据 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">8.1</span>
                        公司关键财务数据
                    </h3>

                    <div class="overflow-x-auto">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">财务指标</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年上半年</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">同比增长</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">2025年第一季度</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">同比增长</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">营业收入</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">20.95亿元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">7.88%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">10.30亿元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">20.49%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">归母净利润</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">4266.9万元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">327.86%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1840万元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">1953.51%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">扣非净利润</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">3432.87万元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">205.44%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1438万元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">2169.72%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">毛利率</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">12.94%</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">20.63%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">12.59%</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">2.50%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">净利率</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">2.11%</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">287.71%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1.82%</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">1.92%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">每股收益</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">0.3元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">328.57%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">0.13元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">328.57%</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">每股净资产</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">10.19元</td>
                                    <td class="py-2 px-3 text-sm text-danger border-b">-4.28%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">每股经营性现金流</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1.12元</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">923.67%</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>
                    <p class="text-xs text-dark-2 mt-2 italic">数据来源：华正新材2025年半年度报告和2025年第一季度报告。</p>
                </div>

                <!-- 8.2 估值指标对比 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">8.2</span>
                        估值指标对比
                    </h3>

                    <div class="overflow-x-auto">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">估值指标</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">华正新材</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">行业平均</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">差值</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">市盈率(动)</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">68.89</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">40</td>
                                    <td class="py-2 px-3 text-sm text-danger border-b">+28.89</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">市净率</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">4.06</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">市销率(PS)</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1.03倍</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">2.5倍</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">-1.47倍</td>
                                </tr>
                            </tbody>
                        </table>
                    </div>
                    <p class="text-xs text-dark-2 mt-2 italic">数据来源：华正新材2025年9月25日数据和行业平均数据。</p>
                </div>

                <!-- 8.3 技术指标概览 -->
                <div class="mb-6">
                    <h3 class="text-lg font-semibold text-dark mb-3 flex items-center">
                        <span class="w-6 h-6 rounded-full bg-primary/10 flex items-center justify-center text-primary text-sm mr-2">8.3</span>
                        技术指标概览
                    </h3>

                    <div class="overflow-x-auto">
                        <table class="min-w-full bg-white border border-light-2 rounded-lg">
                            <thead>
                                <tr class="bg-light-1">
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">技术指标</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">当前值</th>
                                    <th class="py-2 px-3 text-left text-xs font-semibold text-dark-2 border-b">信号</th>
                                </tr>
                            </thead>
                            <tbody>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">最近5日资金流向</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">-1340.09万元</td>
                                    <td class="py-2 px-3 text-sm text-danger border-b">流出</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">最近10日表现</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">跑赢大盘和行业</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">积极</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1日指标</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">强力买入</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">买入</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1周指标</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">强力买入</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">买入</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">1个月指标</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">强力买入</td>
                                    <td class="py-2 px-3 text-sm text-success border-b">买入</td>
                                </tr>
                                <tr>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">短期趋势</td>
                                    <td class="py-2 px-3 text-sm text-dark-2 border-b">回落整理且下跌加速</td>
                                    <td class="py-2 px-3 text-sm text-warning border-b">谨慎</td>
                                </tr>
                            </tbody>